Cliniclands, a Trelleborg, Sweden-based distributor serving dental practices throughout Sweden, Denmark, and Norway, received a majority equity investment from Henry Schein, Inc. (Nasdaq: HSIC), a Melville, N.Y.-based provider of health care solutions to office-based dental and medical practitioners.
The amount of the deal was not disclosed.
Following the deal, the three founders – Falk Andersson, Chief Executive Officer, Niklas Schori, Chief Operating Officer, and Daniel Skoglund, Head of Sales – will continue to lead the business and own the remaining equity stake in Cliniclands, which Henry Schein may acquire under various options after the next three and five years.
The acquisition establishes the first presence for Henry Schein Dental in Scandinavia.
Cliniclands offers a wide range of dental consumables, implants, prosthetic and orthodontic solutions as well as small and office equipment.
The company had sales for the 12 months ended March 31, 2019, of approximately $9.5 million.
Henry Schein is a solutions company for health care professionals with more than 19,000 Team Schein Members worldwide serving more than 1 million customers globally. Its Business, Clinical, Technology, and Supply Chain solutions serves office-based dental and medical practitioners, dental laboratories, government and institutional health care clinics, as well as other alternate care sites.
The company operates through a centralized and automated distribution network, with a selection of more than 120,000 branded products and private-brand products in stock, as well as more than 180,000 additional products available as special-order items.
With the addition of Cliniclands, Henry Schein now has operations in 32 countries around the world.